2024 Forex Focus: Silver Demand Surges Amid Supply Deficit


2024 Forex Focus: Silver Demand Surges Amid Supply Deficit

The Forex newsletter for the day is here. DXY , XAUUSD , XAGUSD , COPPER , USOIL , NASDAQ , S&P 500 E-Mini , USDCHF, Dollar

DXY

(Yesterday given Buy aroundBuy around 105.500 all target done)

Sell around 105.700
Stop loss above 105.900
Target 105.500–105.300

XAUUSD

Buy around 2608
Stop loss below 2600
Target 2616–2624

XAGUSD

(Yesterday given Buy above 30.48 all target done)

Buy above 31.00
Stop loss below 30.78
Target 31.20–31.40

USOIL

(Yesterday given Buy around 68.30 first target done)

Buy around 68.40
Stop loss below 67.70
Target 69.00–69.60

COPPER (HG1)

Buy around 4.1300
Stop loss below 4.1200
Target 4.1400–4.1500

NASDAQ

Sell below 21100
Stop loss above 21250
Target 20950–20800

S&P 500 E-Mini

(Yesterday given Sell around 6025 all target done)

Sell around 6007
Stop loss above 6027
Target 6087–6067

Top pick

EURUSD

Buy around 1.06100
Stop loss below 1.05900
Target 1.06300-1.06500

Forex Newsletter – The global silver market is on track for its fourth consecutive supply deficit in 2024, driven by robust industrial demand, particularly in green technologies and the automotive sector. While silver production is expected to rise slightly, it will not be enough to meet growing demand, leading to a continued market shortfall.

Until then, Happy Trading!

Commodity Samachar Securities
We Decode the Language of the Markets

Also Read: UK Jobs report, India CPI in Focus today , Will MCX Natural Gas Prices Rise on Supply-Demand Worries?

Recommended Read: The Finale of the US Elections 2024: What Lies Ahead for the Commodities Market?

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